Industry Report: Bitfinex Forces Customers to Pay for Hack Losses

Another Silk Road auction is taking place, Bitfinex is covering its losses, and a new class on Bitcoin is set to begin. Want to catch up on your latest digital currency news? Take a look at the stories below.

Also read: Industry Report: News Surrounding Bitfinex Gets Weirder

BITFINEX UPDATE

Following a massive cyber-hack that took place last week, Hong Kong-based exchange Bitfinex has announced it will cover its losses at the expense of its users, leaving many people unhappy. Executives have explained that users will share up to 36 percent of the company’s losses after nearly $72 million dollars were stolen in one of the largest bitcoin thefts in history.

“We have decided to generalize losses across all accounts,” the exchange stated in an official announcement. “Upon logging into the platform, customers will see that they have experienced a generalized loss percentage of 36.067%.”